Economy articles
-
Scranton chosen to propel clean energy economy
SCRANTON, LACKAWANNA COUNTY (WBRE/WYOU) — Scranton was chosen on Friday as one of 150 cities to transition the U.S. into a new era of clean energy. As new financing tools and clean energy tax incentives were brought on by President Joe Biden’s Inflation Reduction Act (IRA), Scranton and other cities like it are in a []
-
Americans less confident about economy, poll shows
(The Center Square) – Newly released survey data shows that Americans are less confident about the economy. Gallup’s recently released economic confidence rating dropped from March to April as inflation remains elevated. Just after the polling was conducted from April 1-22, the federal government released underperforming Gross Domestic Product data. “This is the first time in five months that confidence has not seen a marginal improvement, and the first decline in...
-
Stagflation: What is it, and is the U.S. economy in it right now?
Federal Reserve Chair Jerome Powell said Wednesday there was no sign of stagflation in the economy, even as inflation remains stubbornly high and some signs of slowing growth have started to emerge. In remarks after the release of the Fed's decision Wednesday to leave interest rates unchanged, Powell said he didn't "really understand where talk of a stagflation scenario is coming from" given the preponderance of solid economic data. Historically, stagflation occurs when high unemployment, slow...